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India Ratings for Indian debt instruments – May 26
May 26, 2017 / 5:30 AM / 7 months ago

India Ratings for Indian debt instruments – May 26

    May 26 (Reuters) - Below are the ratings awarded by India Ratings and Research Private Ltd
(India Ratings), formerly known as Fitch Ratings India for local debt instruments as of
May 25, 2017.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------          ------   ---------
SHORT TERM RATINGS:
-------------------
Exim Pvt Ltd                    Non-FB limit           IND A4+          55       Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Mpower Infratech (I) Pvt Ltd    Non-FB WC limit        IND A4+          150      Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Sagar Cements Ltd               Non-FB WC limits       IND A2+          250      Assigned
Shashi Catering Services        Non-FB limit           IND A3           40       Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category

LONG TERM RATINGS:
-------------------
Acme Odisha Solar Power Pvt Ltd TL                                      1425.495 Withdrawn
Bhopal Dhule Transmission Co.   Proposed NCDs          Provisional IND  150      Assigned
Ltd                                                    AAA
Bhopal Dhule Transmission Co.   Proposed NCDs          Provisional IND  7200     Assigned
Ltd                                                    AAA
Corporation Bank                Basel III AT1 bonds    IND A+           10000    Affirmed
Corporation Bank                LT Issuer Rating       IND AA                    Affirmed
Corporation Bank                Basel III Tier 2 bonds*IND AA           5000     Affirmed
* Yet to be raised
Delhi Transco Ltd’S             FB limits              IND A /IND A1    750      Assigned
Delhi Transco Ltd’S             Long-TL                IND A            1730     Assigned
Exim Pvt Ltd                    Long-TL                IND BB-          4.5      Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Exim Pvt Ltd                    FB limit               IND BB- /IND A4+ 242.5    Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Exim Pvt Ltd                    Proposed FB limit      Provisional IND  48       Migrated to
                                                       BB- /Provisional          Non -
                                                       IND A4+                   Cooperating
                                                                                 Category
Foodlink Restaurants (I) Pvt LtdLT loan                IND BB           1000     Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Foodlink Restaurants (I) Pvt LtdFB limit               IND BB/IND A4+   250      Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Foodlink Restaurants (I) Pvt LtdProposed LT loan       Provisional IND  2050     Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Geo Connect Ltd                 FB limit               IND BB /IND A4+  114.5    Downgraded
                                                                                 from IND
                                                                                 BBB-/IND A3
Geo Connect Ltd                 Dropline overdraft     IND BB           96       Downgraded
                                facility                                         from IND BBB-
India Standard Loan Trust XIIV  Liquidity facility     IND AAA(SO)      10.2     Assigned
India Standard Loan Trust XIIV  Series A1 pass-through IND AAA(SO)      297.5    Assigned
                                certificates (PTCs)
India Standard Loan Trust XIIV  Series A2 PTCs         IND AAA(SO)      725.2    Assigned
India Standard Loan Trust XIIV  Second loss credit     IND BBB(SO)      59.8     Assigned
                                facility (SLCF)
Jaunpur Nagar Palika Parishad   LT Issuer Rating       IND BB                    Assigned
Kalyanalakshmi Shopping Mall    FB WC limit            IND B+ /IND A4   85       Assigned
Kalyanalakshmi Shopping Mall    Proposed FB WC limit*  Provisional IND  35       Assigned
                                                       B+ /Provisional
                                                       IND A4
* The rating is provisional and shall be confirmed upon the sanction 
  and execution of loan documents for the above facility by KLSM
  to the satisfaction of Ind-Ra
Mallikarjun Construction        FB limits                               30       Withdrawn
Company 
Mallikarjun Construction        Non-FB limits                           70       Withdrawn
Company 
Manney Engineers                Long-TL                IND B+           53.5     Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Mpower Infratech (I) Pvt Ltd    FB WC limit            IND BB+          370      Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Narula Oil And Fats Pvt Ltd     FB limit               IND BB/IND A4+   150      Assigned
Premier Steels                  FB Fac -  CC           IND B /IND A4    100      Affirmed
Sagar Cements Ltd               FB WC limits           IND A- /IND A2+  970      Assigned
Sagar Cements Ltd               TL                     IND A-           2151     Assigned
Saraswati Medical & Dental      TL                     IND BB+          18.2     Migrated to
College                                                                          Non -
                                                                                 Cooperating 
                                                                                 Category
Saraswati Medical & Dental      Proposed TL            Provisional IND  106.8    Migrated to
College                                                BB+                       Non -
                                                                                 Cooperating 
                                                                                 Category
Shashi Catering Services        FB limit               IND BBB- /IND A3 30       Migrated to
                                                                                 Non -
                                                                                 Cooperating 
                                                                                 Category
Southern Gold Pvt Ltd           Long-TL                IND BB-          137.5    Assigned
Southern Gold Pvt Ltd           FB Fac                 IND BB- /IND A4+ 700      Assigned
SRS Ltd                         TL (LT)                IND D            100      Affirmed
SRS Ltd                         Non-FB WC limits (ST)  IND D            4750     Affirmed
SRS Ltd                         FB WC limits (long-)   IND D            3500     Affirmed
SRS Ltd                         Term deposit (LT)      IND tD           2250     Affirmed
-----------------------------------------------------------------------------------------------
Note:- All Indian National-scale ratings previously assigned by Fitch have been transferred to
India Ratings & Research Private Ltd (India Ratings), which is a wholly owned subsidiary of the
Fitch Group. The withdrawn criteria are now available on India Ratings' website at
www.indiaratings.co.in

$: Rating watch with positive implication
#: Rating Watch with Developing implications
@: Rating Watch with Negative Implications
%: Rating under Credit Watch
wd -Rating Stands Withdrawn
sp -Rating Suspended
pp -Principal Protected
pn -Principal Not Protected

INDIA RATINGS may apply + or - signs for ratings to reflect a comparative standing within the
category.

BG-Bank Guarantee; CC-Cash Credit; CCPS-Cumulative Convertible Preference Share; CD-Certificate
of Deposit; CLO-Collateralized Loan Obligation; CPA-Claims Paying Ability; CP-Commercial
Paper; CPS-convertible preference shares; CRPS- Cumulative Redeemable Convertible Preference
shares; DDB-Deep Discount Bond; EPBI-Exchange premium bond; FBL-Fund Based Limits; FRB/FRN
-Floating Rate Bond/Note; ICD -Inter Corporate Deposit; ITD-Immediate Term Debt; LOC-Letter of
Credit; LT -Long Term; LTB -Long Term Borrowing; LTD -Long Term Debt; MOCD-multiple option
convertible debenture; MTD -Medium term Debenture; MTN-medium term notes; NCD(SO) -
Non-Convertible Debenture-(Structured Obligation); NCD-Non-convertible Debentures; NCRB-Non
Convertible Redeemable Bonds; NM-Not Meaningful; OCD-optionally convertible debenture; OD-Over
Draft; OFCD-Optionally Fully Convertible Debenture; PCD-Partially Convertible Debenture;
PCN-partly convertible notes; PCPS-Partly Convertible Preference Share; POCD-partly optional;
PP-privately placed; PSPC-Post Shipment & Packing Credit; PS-Preference Shares; PTC-Pass
Through Certificates; RPS-Redeemable Preference Shares; SCPN-secured convertible preference
notes; SDO-Structured Debt Obligation; SLR-Statutory Liquidity Ratio; SO-Structured
Obligation; SPCD - Secured Partly Convertible Debentures; SPN-secured premium notes; STB-Short
Term Bond; STD-Short Term Debentures; ST-Short Term; Sub. Bonds-Subordinate Bonds; TB-Taxable
Bond; TFB-Tax Free Bond; TL-Term Loan; TOCD-triple option convertible debentures; RWN- Rating
Watch Negative;
RWN- Rating Watch Evolve.

(Mumbai Rate Reporting Unit + 91 22 6180 7222 / 3317 7222, E-mail at
rru.data@thomsonreuters.com)

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